Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Rating Lowered by Wall Street Zen

Skyward Specialty Insurance Group (NASDAQ:SKWD) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research firms have also commented on SKWD. Truist Financial upped their price objective on shares of Skyward Specialty Insurance Group from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods raised their price objective on shares of Skyward Specialty Insurance Group from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. TD Cowen raised their price objective on Skyward Specialty Insurance Group from $49.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, August 11th. Piper Sandler restated an “overweight” rating on shares of Skyward Specialty Insurance Group in a research note on Monday, August 24th. Finally, Weiss Ratings raised Skyward Specialty Insurance Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Skyward Specialty Insurance Group presently has a consensus rating of “Moderate Buy” and an average target price of $71.11.

Skyward Specialty Insurance Group Stock Performance

NASDAQ:SKWD opened at $58.32 on Friday. The stock’s 50-day moving average is $57.62 and its 200-day moving average is $52.82. The stock has a market cap of $2.59 billion, a P/E ratio of 13.59 and a beta of 0.37. Skyward Specialty Insurance Group has a 1-year low of $40.60 and a 1-year high of $65.69.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last posted its earnings results on Tuesday, August 4th. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.17 by $0.13. The business had revenue of $489.53 million for the quarter, compared to the consensus estimate of $706.59 million. Skyward Specialty Insurance Group had a net margin of 10.84% and a return on equity of 18.72%. As a group, equities analysts forecast that Skyward Specialty Insurance Group will post 4.98 EPS for the current year.

Institutional Investors Weigh In On Skyward Specialty Insurance Group

Several institutional investors have recently bought and sold shares of SKWD. Baird Financial Group Inc. raised its holdings in shares of Skyward Specialty Insurance Group by 8.0% during the second quarter. Baird Financial Group Inc. now owns 10,016 shares of the company’s stock valued at $584,000 after purchasing an additional 746 shares during the last quarter. Arcus Capital Partners LLC purchased a new position in Skyward Specialty Insurance Group during the second quarter valued at $350,000. Arizona State Retirement System grew its stake in shares of Skyward Specialty Insurance Group by 10.5% during the 2nd quarter. Arizona State Retirement System now owns 11,062 shares of the company’s stock valued at $645,000 after acquiring an additional 1,054 shares during the period. Nykredit A S bought a new position in shares of Skyward Specialty Insurance Group in the second quarter worth approximately $37,000. Finally, Corient Private Wealth LP increased its stake in Skyward Specialty Insurance Group by 46.7% in the 2nd quarter. Corient Private Wealth LP now owns 49,007 shares of the company’s stock worth $2,860,000 after buying an additional 15,597 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc is a specialty property and casualty insurance company headquartered in Houston, Texas. Through its insurance subsidiaries, the company provides customized coverage for businesses and other commercial policyholders, focusing on risks that may require specialized underwriting and claims expertise.

Its products and programs include commercial property and casualty insurance, workers’ compensation, commercial auto, general and professional liability, excess and surplus lines, healthcare-related coverage, surety, and other specialty insurance solutions.